Lending

GAINESVILLE, Fla. – Campus USA CU has implemented LenderLive Network’s web-based mortgage underwriting system to help it meet the underwriting standards of Fannie Mae and Freddie Mac.

ALEXANDRIA, Va. – NCUA ruled that a line of credit provided by a credit union to a mortgage company is not exempt and thus qualifies as a member business loan under the agency’s MBL rules.

LIVONIA, Mich. – Quicken Loans on Monday announced it is entering the market for private label mortgage originations for credit unions with the creation of Quicken Loans Mortgage Services.

LAS VEGAS-Credit Union Direct Lending (CUDL) has introduced a new SMART Approval program.

BURLINGTON, Mass.-A new website could help credit unions boost auto loan portfolios and cross sell additional services.

DAVIS, Calif. – A new study by the University of California Graduate School of Management questions whether payday loans offered by credit unions are a preferable to traditional payday lenders and whether such credit can be provided profitably.

LAS VEGAS-Credit Union Journal asked attendees of the Auto & Mortgage Lending Symposium co-hosted here by CUDL and Prime Alliance: Is your loan portfolio growing in 2010, and what are you doing?

WARREN, Ohio – Seven Seventeen CU said it has agreed to lend almost $2.6 million to a $5.15 million Hotel Inn Express project at the Interstate 80 exchange in nearby Liberty.

WASHINGTON – Mortgage rates this week declined again to their lowest level of the year, as rates fell on U.S. Treasuries.

PHOENIX – Arizona Central CU has partnered with the Northern Arizona Council of Governments to offer a new program, Wheels to Work, that helps individuals that have limited income with minimal to no credit purchase a vehicle by providing down payment assistance and loan options.

DAVIS, Calif. – A new study by the University of California Graduate School of Management questions whether payday loans offered by credit unions are a preferable to traditional payday lenders and whether such credit can be provided profitably.

LAS VEGAS-Mortgage lending CUSO Prime Alliance has acquired technology partner Dexma in a deal announced last week during the Auto & Mortgage Lending Symposium Prime Alliance co-hosted here with Credit Union Direct Lending (CUDL).

LANSING, Mich.-The Michigan Credit Union Small Business Financing Alliance (CUSBFA) is now operating and has launched www.CUSBFA.com, offering entrepreneurs and small businesses with training and other tools to apply for credit to get their business off the ground or expand.

COLUMBUS, Ohio-Eleven credit unions here have pledged $150 million in affordable student lending through a new initiative called Ohio Student Choice.

WASHINGTON – Long-term mortgage rates declined this week, with the average for the benchmark 30-year loan drifting to its lowest level in six weeks, according to Freddie Mac.

McLEAN, Va. – Freddie Mac is asking for another $10.6 billion in federal aid after posting a big loss in the first three months of the year, $8 billion.

ALEXANDRIA, Va. – Demand for NCUA’s community development loans has almost dried up in the first quarter of the year, with just a single 1% loan approved, putting the $18 million fund on pace for its slowest year ever.

COLUMBUS, Ohio – Eleven credit unions on Thursday will unveil a plan to commit $150 million to a new student lending program through Credit Union Student Choice.